Westlake Announces Agreement with Ally’s SmartAuction

FOR IMMEDIATE RELEASE (May 8, 2018):

Los Angeles, CA –Westlake Financial Services announces an agreement to list remarketing vehicles on Ally’s SmartAuction, a wholesale auto auction online platform. Westlake began listing vehicles for sale nationwide on May 1st.

“With the remarketing industry transforming, this partnership with Ally’s SmartAuction will continue to mobilize our audiences and resources to service our customers better,” stated Ian Anderson, President of Westlake Financial Services. “Ally’s SmartAuction give us more platform diversity by selling vehicles to potential buyers online through convenient bidding capabilities.”

Ally’s SmartAuction is an industry-leading wholesale Internet auction that offers a wide selection of vehicles to registered dealers. SmartAuction provides both franchise and independent dealers the ability to browse an expansive virtual inventory, and creates a seamless experience for buying or selling wholesale vehicles.

“We are excited to team with Westlake, a growing national leader in the automotive industry, to be part of its remarketing strategy,” said Steve Kapusta, Vice President, Specialized Asset Management for Ally. “We look forward to putting the value of SmartAuction and our digital remarketing support to work for Westlake by providing greater reach and convenience for their vehicles in the wholesale marketplace.”

Westlake Financial Services sells thousands of quality used cars through auto auctions nationwide. Westlake dealers receive money back and vehicle guarantees when buying Westlake Remarketing vehicles.  To learn more about Westlake’s remarketing program visit www.westlakefinancial.com/additional-services/Remarketing.

About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $6.5 billion in assets under management. Westlake Financial Services originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and powersports dealers. Westlake also offers loan portfolio purchasing, credit facilities and portfolio servicing through their ALPS division (Advanced Lending & Portfolio Services); www.WestlakeALPS.com. Floor plan lines of credit are provided through Westlake Flooring Services; www.WestlakeFlooringServices.com, shared cash flow auto lending through Westlake’s wholly owned subsidiary, Western Funding Inc, a Nevada Based auto lender, and indirect automotive leasing for credit unions through Credit Union Leasing of America (CULA), is a subsidiary of Westlake, dealers leads and direct-to-consumer auto loans through Westlake Direct, and direct to consumer title loans are through Westlake’s wholly owned subsidiary Loan Center; www.loancenter.com .

About Ally Financial Inc.

Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company with assets of $167.1 billion as of December 31, 2017. As a client-centric company with passionate customer service and innovative financial solutions, Ally is relentlessly focused on “Doing it Right” and being a trusted financial partner for its consumer, commercial, and corporate customers. Ally’s award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage-lending services and a variety of deposit and other banking products, including CDs, online savings, money market and checking accounts, and IRA products. Ally also promotes the Ally CashBack Credit Card. Additionally, Ally offers securities brokerage and investment advisory services through Ally Invest. Ally remains one of the largest full-service auto finance operations in the country with a complementary auto-focused insurance business, which together serve more than 18,000 dealer customers and millions of auto consumers. Ally’s robust corporate finance business offers capital for equity sponsors and middle-market companies.

For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.